In Fave-r of bigger things

Fave co-founder and chief executive officer Joel Neoh (pic) is “pretty happy” that the acquisition deal with Pine Labs in April had gone through. For one, the injection of capital from the deal gives Fave deeper pockets to fund its newly launched FavePay

AT a time when sizeable tech companies in the region are looking at listing opportunities, fintech and loyalty platform Fave decided, instead, on the acquisition route.

On the day that ride-hailing giant Grab made public its SPAC merger deal with Altimeter Growth Corp as a prelude to a listing in the US, Fave announced that it had been acquired by Pine Labs in a cash and equity deal valued at over US$45mil (RM185mil at the time).